It was another big year in property in 2016, with some trends such as affordability, lifestyle, proximity to amenities and a desire for larger homes all capturing the nation’s attention.
So where were the hottest markets, the most in-demand suburbs for buyers and renters, and just what were homebuyers looking for this year? Check out the best of the best below.
Most popular suburb for buyers – houses and apartments
23 Fossickers Way Warrandyte. Picture: Realestate.com.au
Warrandyte, a leafy suburb in outer Melbourne was the surprise top suburb for houses, beating historical favourites on the Northern Beaches of Sydney and inner suburbs of Melbourne.
A wide range of housing options, large homes on big blocks and commuting distance to the Melbourne CBD are the likely factors elevating Warrandyte’s popularity.
1/49 Osborne Road Manly. Picture: Realestate.com.au
For apartments, beachside Manly on Sydney’s Northern Beaches came in as the clear number one.
Popular with property seekers in Australia and overseas – particularly those from the UK – lifestyle and proximity to amenities are likely the key drivers.
Relative affordability compared to eastern suburbs beaches in Sydney and low levels of development also helped it top the list.
The winners are determined by dividing the total number of visits to realestate.com.au/buy per suburb by the supply of houses/apartments for sale in these areas. This then determines the demand for each neighbourhood.
Most popular suburb for renters – houses and apartments
And the winner is … the Gold Coast for both houses and apartments.
36 Claymore Crescent Sorrento Qld. Picture: Realestate.com.au
Why the Gold Coast? Lifestyle, beaches, affordability, the return of the Gold Coast economy and the upcoming Commonwealth Games are all contributing factors.
The most popular suburbs for renters are measured by comparing the number of people looking to rent in that suburb with the number of listings on realestate.com.au/rent in that suburb.
Most popular suburb for sharers
And the winner is … Sydney’s CBD.
Sydney is a great place to find share accommodation. Picture: Getty
The strong return of the NSW economy and white collar employment growth in the Sydney CBD are likely key factors.
The Sydney CBD office market hit its lowest vacancy rate in nearly a decade driven by the return of the finance sector, as well as growth in technology companies.
To allow these companies to grow, more employees from interstate and overseas were required and it appears many were looking to share in the Sydney CBD.
The most popular suburbs for sharers are measured by comparing the number of people looking to share in that suburb with the number of listings on flatmates.com.au.
Most popular house and apartment
45-51 Albatross Avenue, Mermaid Beach. Picture: Realestate.com.au
Most of us may not be able to afford a luxury home, but we certainly enjoy looking at them. This property at 45-51 Albatross Avenue, Mermaid Beach on the Gold Coast came in at number one as the most viewed property of 2016.
No expense was spared on the brand new home, creating the ultimate luxury property.
In the apartment and townhouse market, 12 Brook St, Hawthorn was marketed to downsizers and the price of the property, combined with attention to detail in the design, made the townhouse the most popular on realestate.com.au in 2016.
12 Brook Street Hawthorn. Picture: Realestate.com.au
Most popular apartment development
And the winner is … Melbourne.
New Charsfield: 478 St Kilda Road, Melbourne. Picture: Realestate.com.au
Melbourne’s CBD may be seeing the most development on record, however this did little to prevent neighbouring St Kilda Rd from having the most viewed new apartment development on a view per project basis.
New Charsfield at 478 St Kilda Road, a Rothelowman designed apartment building, was the most viewed new development of 2016 on realestate.com.au.
Most popular house and land
And the winner is … Banksia Beach.
The Pacific Harbour development at Banksia Beach was the most popular house and land development for 2016.
Lifestyle and close proximity to water were major drivers in the popularity of house and land developments, and for that reason Queensland featured prominently. The most viewed project was Pacific Harbour at Banksia Beach around 70kms north of Brisbane.
Most popular commercial property
And the winner is … Melbourne.
Want a Melbourne CBD development site? Despite concerns about too much development, this didn’t stop 1-3 Coverlid Place, Melbourne, Vic 3000 coming in as the most viewed commercial property.
Although there is a lot of development taking place, the triple street frontage in Melbourne’s Chinatown precinct, as well as vacant possession, would appeal to many developers. It unlikely many tenants would want to occupy the building as is.
Original article: https://www.realestate.com.au/news/property-best-fairest-2016/